Texas Pacific Land Co. (NYSE:TPL) Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC boosted its holdings in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 58.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 525 shares of the financial services provider's stock after purchasing an additional 194 shares during the quarter. NewEdge Advisors LLC's holdings in Texas Pacific Land were worth $580,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in shares of Texas Pacific Land by 6.1% during the third quarter. Barclays PLC now owns 19,892 shares of the financial services provider's stock valued at $17,600,000 after acquiring an additional 1,152 shares during the period. Tidal Investments LLC boosted its holdings in shares of Texas Pacific Land by 143.8% during the third quarter. Tidal Investments LLC now owns 5,319 shares of the financial services provider's stock valued at $4,706,000 after acquiring an additional 3,137 shares during the period. Synovus Financial Corp acquired a new position in shares of Texas Pacific Land during the third quarter valued at $208,000. Franklin Resources Inc. boosted its holdings in shares of Texas Pacific Land by 74.0% during the third quarter. Franklin Resources Inc. now owns 14,367 shares of the financial services provider's stock valued at $12,711,000 after acquiring an additional 6,109 shares during the period. Finally, First Financial Bank Trust Division acquired a new position in shares of Texas Pacific Land during the fourth quarter valued at $217,000. Institutional investors and hedge funds own 59.94% of the company's stock.

Insider Activity at Texas Pacific Land

In related news, CFO Chris Steddum sold 214 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the transaction, the chief financial officer now owns 3,502 shares in the company, valued at $4,601,592.98. This trade represents a 5.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Micheal W. Dobbs sold 1,150 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the sale, the vice president now owns 1,393 shares of the company's stock, valued at $1,771,227.36. The trade was a 45.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased 87 shares of company stock worth $113,534 over the last quarter. 6.50% of the stock is currently owned by company insiders.

Texas Pacific Land Stock Down 0.2 %

TPL stock opened at $1,333.73 on Monday. The company has a 50-day simple moving average of $1,306.98 and a 200 day simple moving average of $1,295.81. The company has a market capitalization of $30.66 billion, a P/E ratio of 67.63 and a beta of 1.44. Texas Pacific Land Co. has a fifty-two week low of $555.71 and a fifty-two week high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The company had revenue of $185.78 million during the quarter.

Texas Pacific Land Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.48%. Texas Pacific Land's dividend payout ratio is presently 32.45%.

About Texas Pacific Land

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.

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